Cornerstone Capital Management Holdings LLC. Boosts Stake in McKesson Corporation (MCK)
Cornerstone Capital Management Holdings LLC. lifted its holdings in McKesson Corporation (NYSE:MCK) by 3.6% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 207,047 shares of the company’s stock after buying an additional 7,199 shares during the period. Cornerstone Capital Management Holdings LLC. owned approximately 0.10% of McKesson Corporation worth $34,065,000 as of its most recent filing with the Securities and Exchange Commission.
Several other large investors have also bought and sold shares of MCK. BlackRock Inc. lifted its stake in shares of McKesson Corporation by 2,026.2% in the first quarter. BlackRock Inc. now owns 14,198,977 shares of the company’s stock worth $2,105,140,000 after buying an additional 13,531,173 shares in the last quarter. Ballentine Partners LLC purchased a new position in shares of McKesson Corporation in the first quarter worth about $191,000. Pzena Investment Management LLC lifted its stake in shares of McKesson Corporation by 1,015.0% in the first quarter. Pzena Investment Management LLC now owns 2,077,104 shares of the company’s stock worth $307,951,000 after buying an additional 1,890,815 shares in the last quarter. Ameriprise Financial Inc. lifted its stake in shares of McKesson Corporation by 288.6% in the first quarter. Ameriprise Financial Inc. now owns 1,752,850 shares of the company’s stock worth $259,883,000 after buying an additional 1,301,803 shares in the last quarter. Finally, Harbour Capital Advisors LLC lifted its stake in shares of McKesson Corporation by 15,915.0% in the second quarter. Harbour Capital Advisors LLC now owns 1,020,313 shares of the company’s stock worth $6,201,000 after buying an additional 1,013,942 shares in the last quarter. 85.19% of the stock is currently owned by hedge funds and other institutional investors.
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Several equities analysts have recently weighed in on the stock. UBS AG reissued a “neutral” rating and issued a $166.00 price target (up from $156.00) on shares of McKesson Corporation in a research note on Monday, June 26th. Vetr downgraded shares of McKesson Corporation from a “strong-buy” rating to a “buy” rating and set a $187.51 target price on the stock. in a research note on Monday, July 17th. Leerink Swann lifted their target price on shares of McKesson Corporation to $170.00 and gave the stock a “market perform” rating in a research note on Thursday, June 29th. Zacks Investment Research raised shares of McKesson Corporation from a “hold” rating to a “buy” rating and set a $184.00 target price on the stock in a research note on Wednesday, July 12th. Finally, Jefferies Group LLC raised shares of McKesson Corporation from a “hold” rating to a “buy” rating and set a $153.00 target price on the stock in a research note on Thursday, July 27th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and nine have assigned a buy rating to the company’s stock. McKesson Corporation currently has a consensus rating of “Hold” and an average price target of $171.53.
In other news, SVP Erin M. Lampert sold 900 shares of the stock in a transaction dated Thursday, September 7th. The shares were sold at an average price of $155.65, for a total transaction of $140,085.00. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO John H. Hammergren sold 100,000 shares of the stock in a transaction dated Friday, September 22nd. The stock was sold at an average price of $153.53, for a total transaction of $15,353,000.00. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 952,066 shares of company stock worth $145,736,987. Insiders own 1.20% of the company’s stock.
Shares of McKesson Corporation (NYSE MCK) traded down 0.07% during midday trading on Thursday, hitting $153.50. 392,372 shares of the company’s stock were exchanged. The firm has a market cap of $32.27 billion, a PE ratio of 6.96 and a beta of 1.17. The stock’s 50-day moving average price is $151.26 and its 200 day moving average price is $153.43. McKesson Corporation has a one year low of $114.53 and a one year high of $169.29.
McKesson Corporation (NYSE:MCK) last announced its quarterly earnings data on Thursday, July 27th. The company reported $2.46 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $2.81 by ($0.35). The company had revenue of $51.05 billion for the quarter, compared to analysts’ expectations of $51.22 billion. McKesson Corporation had a return on equity of 25.76% and a net margin of 2.42%. The company’s revenue was up 2.7% on a year-over-year basis. During the same quarter in the previous year, the company earned $3.50 earnings per share. Equities research analysts forecast that McKesson Corporation will post $12.08 EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Monday, October 2nd. Stockholders of record on Friday, September 1st were issued a dividend of $0.34 per share. This is a positive change from McKesson Corporation’s previous quarterly dividend of $0.28. This represents a $1.36 annualized dividend and a dividend yield of 0.89%. The ex-dividend date of this dividend was Wednesday, August 30th. McKesson Corporation’s dividend payout ratio is presently 6.07%.
McKesson Corporation Company Profile
McKesson Corporation (McKesson) is engaged in delivering pharmaceuticals, medical supplies and healthcare information technology. The Company operates through two segments: McKesson Distribution Solutions and Technology Solutions. The McKesson Distribution Solutions segment distributes drugs and equipment, and health and beauty care products across North America and internationally.
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